Datadog (NASDAQ:DDOG) Issues FY24 Earnings Guidance

Datadog (NASDAQ:DDOG) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.62 to $1.66 for the period, compared to the consensus earnings per share estimate of $1.61. The company issued revenue guidance of $2.62 billion to $2.63 billion, compared to the consensus revenue estimate of $2.61 billion. Datadog also updated its FY 2024 guidance to 1.620-1.660 EPS.

Datadog Stock Performance

NASDAQ:DDOG traded down $1.78 during mid-day trading on Friday, hitting $112.28. 4,515,414 shares of the stock were exchanged, compared to its average volume of 4,125,572. The stock has a market capitalization of $37.56 billion, a price-to-earnings ratio of 350.88, a price-to-earnings-growth ratio of 37.24 and a beta of 1.11. The firm’s 50-day simple moving average is $119.38 and its 200 day simple moving average is $122.98. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43. Datadog has a fifty-two week low of $77.81 and a fifty-two week high of $138.61.

Analyst Ratings Changes

A number of brokerages recently weighed in on DDOG. JMP Securities upgraded Datadog to a hold rating in a research report on Wednesday, May 8th. Bank of America upgraded Datadog from a neutral rating to a buy rating and raised their target price for the company from $143.00 to $155.00 in a report on Thursday, May 30th. Needham & Company LLC decreased their price target on Datadog from $165.00 to $140.00 and set a buy rating for the company in a research report on Friday. Baird R W raised Datadog from a hold rating to a strong-buy rating in a research report on Wednesday, May 8th. Finally, Mizuho upgraded Datadog from a neutral rating to an outperform rating and lifted their price target for the company from $135.00 to $155.00 in a research report on Tuesday, July 16th. Four analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $138.93.

Insider Transactions at Datadog

In related news, CEO Olivier Pomel sold 98,690 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $109.16, for a total value of $10,773,000.40. Following the completion of the sale, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at $35,426,677.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Olivier Pomel sold 98,690 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $109.16, for a total value of $10,773,000.40. Following the sale, the chief executive officer now directly owns 324,539 shares in the company, valued at approximately $35,426,677.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $118.52, for a total transaction of $15,064,484.60. Following the completion of the transaction, the chief technology officer now directly owns 290,412 shares of the company’s stock, valued at approximately $34,419,630.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 857,306 shares of company stock worth $101,950,263. 11.78% of the stock is currently owned by insiders.

Datadog Company Profile

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products comprise infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, data streams and universal service monitoring, network monitoring, incident management, workflow automation, observability pipelines, cloud cost and cloud security management, application security management, cloud SIEM, sensitive data scanner, and CI visibility.